EOG Resources (EOG) Price Target Raised to $127 at Wells Fargo

EOG Resources, Inc. (NYSE:EOG) is included among the 10 Best American Oil and Gas Stocks to Buy.

EOG Resources, Inc. (NYSE:EOG) is one of the largest crude oil and natural gas exploration and production companies in the United States, with proven reserves in the US and Trinidad.

On January 27, Wells Fargo slightly raised its price target on EOG Resources, Inc. (NYSE:EOG) from $126 to $127, while keeping an ‘Overweight’ rating on the shares. The analyst noted that the macro oil environment is currently under pressure from the increasing output from OPEC and non-OPEC players, with prices pushed down by a near-term surplus. Amid the softer environment, Wells Fargo continues to favor players that maintain low reinvestment and strong capital discipline.

On the other hand, on January 26, Susquehanna reduced its price target on EOG Resources, Inc. (NYSE:EOG) from $161 to $151, but kept a ‘Positive’ rating on the shares. The update comes as the analyst firm revised its targets in the exploration and production group as part of a Q4 preview. Susquehanna noted that the oil market is currently faced with a supply glut and softer demand, putting downward pressure on prices. As a result, the firm lowered its 2026 WTI price assumption from $65 to $60 per barrel.

However, the analyst remains bullish on the long-term outlook for natural gas, with the growing power requirements from data centers and electrification supporting demand.

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